By Angela McDaniels
Tacoma, Wash., Sept. 2 – HSBC USA Inc. priced $19.24 million 0% long short notes due March 16, 2016 linked to the Industrial Select Sector/Consumer Discretionary Select Sector Long Short index, according to a 424B2 filing with the Securities and Exchange Commission.
The composite index consists of a leveraged long position in the Industrial Select Sector index and a short position in the Consumer Discretionary Select Sector index.
The long component has an initial weight of 150%, and the short component has an initial weight of negative 50%.
The payout at maturity will be par of $10 plus the index return. If that return is negative, investors will receive less than par.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Long short notes
|
| Underlying index: | Industrial Select Sector/Consumer Discretionary Select Sector Long Short index
|
| Amount: | $19,235,810
|
| Maturity: | March 16, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus index return, which could be positive or negative
|
| Initial index level: | 100
|
| Final index level: | Average of index’s closing levels on five trading days ending March 11, 2016
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 5
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40434D103
|
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